Pakistan has appointed Binance co-founder Changpeng Zhao as a strategic advisor to its Crypto Council, in a move that signals Islamabad’s growing interest in integrating digital assets into its financial system.
Zhao, better known as “CZ” in the crypto world, will guide the council on key areas including regulation, infrastructure, education and adoption, according to a statement from Pakistan’s finance ministry.
The appointment comes amid the government’s push to build a globally competitive digital finance platform and attract foreign investment after narrowly avoiding a financial default in 2023.
“With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth,” Finance Minister Muhammad Aurangzeb said in a statement.
Zhao’s Appointment Tied to Broader Push for a Regulated Crypto Ecosystem
Zhao met with top officials during his visit to Islamabad, including Prime Minister Shehbaz Sharif and Deputy Prime Minister Ishaq Dar.
The high-level meeting chaired by Aurangzeb also brought together the heads of the State Bank of Pakistan, Securities and Exchange Commission of Pakistan and federal secretaries from the Law and IT ministries.
Image Source: Ministry of Finance, Government of Pakistan/ FacebookZhao’s appointment aligns with Pakistan’s broader plan to develop a legal framework for cryptocurrency trading. The goal is to create a regulated and inclusive ecosystem that can draw capital and position the country as a competitive player in the global digital economy.
Pakistan Signals Policy Shift With Launch of Crypto Council and Global Consultations
Crypto adoption is already gaining ground in Pakistan, a country of over 230m people. Despite earlier warnings from the central bank about the risks of digital assets, interest in the space is growing. Trading and blockchain technology continue to gain traction, especially among younger populations.
The Pakistan Crypto Council was formally launched last month. Led by Bilal Bin Saqib as CEO and chaired by Aurangzeb, the council brings together senior regulators and aims to establish clear guidelines while learning from international counterparts.
“Pakistan is no longer avoiding crypto. It is preparing to embrace it responsibly,” Saqib told Cryptonews recently.
The PCC has already begun consulting with global regulators in El Salvador, Nigeria, Malaysia and the European Union, signalling Pakistan’s intent to draw on international best practices.
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